Upbit suspends digital asset deposits and withdrawals between BitMEX involving 1000000 KRW and above
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AT A GLANCE
Due to BitMEX terminating its access to VerifyVASP, Upbit has suspended deposits and withdrawals between the two platforms involving 1000000 KRW and above in digital assets.
Article
Upbit will suspend transactions with BitMEX involving 1000000 digital asset deposits and withdrawals of KRW and above
BlockBeats reported that,October 16, according to an official Upbit announcement, because BitMEX terminated its access to the Travel Rule solution VerifyVASP, Upbit will, effective October 16 suspend digital asset deposits and withdrawals between Upbit and BitMEX involving 1000000 KRW and above, while deposits below 1000000 KRW will continue to be supported as usual. Manual deposits of 1000000 KRW and above from BitMEX to Upbit will cease on December 18 at 14: 00; assets of the same type credited thereafter will enter the return process, and users must retrieve them according to the return procedure.
Original link https://m.theblockbeats.info/flash/372233
Key points
01
Upbit announced that, because BitMEX terminated its access to the Travel Rule solution VerifyVASP, it will suspend, effective October 16 transactions between the two platforms involving 1000000 KRW and above in digital asset deposits and withdrawals.
02
1000000 Deposits below KRW will continue to be supported as usual.
03
Manual deposits from BitMEX to Upbit of 1000000 KRW and above will cease on December 18 at 14: 00; assets of the same type credited thereafter will enter the return process.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Large digital asset transfers between Upbit and BitMEX are restricted, while small deposits can still be made.December 18 After 14: 00, eligible manual deposits may need to be returned according to the procedure.
Why it matters to readers
Large deposits, withdrawals, and fund transfers by relevant users may be affected, and they should pay attention to the return process.
If you transfer digital assets between Upbit and BitMEX, you should confirm the amount threshold, scope of the suspension, and return requirements.
Risks and unknowns
The evidence consists of BlockBeats' media report of Upbit's official announcement; no page for the official Upbit announcement was attached.
December 18 The evidence does not explain how the return process will actually be carried out after 14: 00.
When deposits and withdrawals will resume 1000000 involving KRW and above was not stated in the evidence.
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Related concepts
Travel Rule
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